Global Duty Free Retailing Market Analysis

According to Verified Market Intelligence, The Global Duty Free Retailing Market was valued at USD 70.37 billion in 2017 and is projected to reach USD 118.81 billion by 2025, growing at a CAGR of 6.8% from 2018 to 2025.

What is Duty Free Retailing?

With growing population, the number of travelers has also increased lately enhancing the scope of tourism globally. Over 1 billion people travel internationally which instigates the need of shopping spaces in airport and various other sales channels such as sea ports, downtown shops, etc. These shops at the sales channels are subsidized of all the taxes and produces maximum number of revenue. Duty free retailing shops comprises various segments such as fragrances & cosmetics, alcohol & spirits, fashion & accessories, tobacco goods, watches & jewelry. Rapid growth of tourism industry have contributed in the growth of duty free retailing market.

Global Duty Free Retailing Market Outlook

In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

Increasing scope of travel and tourism and attraction towards the subsided goods is booming the market and acts as a potential driver for the overall market. Apart from this, low statistics of sales shows that the local duty free retailers are not able to generate ample amount of revenue which suggests that the market might experience a downfall.

Verified Market Intelligence narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Duty Free Retailing Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.

Global Duty Free Retailing Market Competitive Landscape

The “Global Duty Free Retailing Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such Dufry AG, China Duty Free, Duty Free Americas, Inc., Safilo, King Power International Group and many more. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.

Global Duty Free Retailing Market Segmentation, by Type

On the basis of type, Global Duty Free Retailing Market is segmented into:

Fragrances & cosmetics

Alcohol & spirits

Fashion & accessories

Tobacco goods

Watches & Jewelry

Others

The Fragrances & Cosmetics Segment dominated the market in 2017 and is projected to grow at a significant CAGR between 2018 and 2025.

Global Duty Free Retailing Market Segmentation, by Sales Channel

The Airport segment accounted for the major shares of the market in the year 2017 and is projected to grow at a significant CAGR between 2018 and 2025.

Global Duty Free Retailing Market Geographic Scope

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Rest of Europe

Asia Pacific

China

Japan

India

Rest of Asia Pacific

Latin America

Brazil

Rest of the World

Asia Pacific dominated the market in the year 2017 followed by Europe. This region is expected to account for the largest share in the forthcoming years as it is the highest revenue contributor of the market.